Korea-based Kumho Tire will start construction of its $413 million manufacturing plant in Macon, Georgia, in August, according to the Macon Economic Development Commission.

The plant, to be built on 150 acres in Sofkee Industrial Park, is expected to bring 450 jobs and start tire production in January 2016. Kumho, which has an option to purchase 30 more acres, will take up less than half the space available in the park.

“Today is a great day for our company, and we are very pleased to announce this,” said Harry Choi, Kumho Tire North America president.

The project, first announced in January 2008, was delayed by the subsequent global financial crisis, but the company remained committed to Macon, he said, thanking local officials for their patience and commitment. “We are proud to call Macon a Kumho hometown,” Choi said.

Choi said last year that production could start at 3 million tires per year, with the potential for 10 million. The original announcement called for a $225 million factory, but on Tuesday Macon officials reported Kumho will invest up to $413 million in the project.

This will be the Korean-based company’s first U.S. plant. Choi said, “There’s a famous saying that goes, ‘Sometimes the best things in life are worth waiting for.’ Well. I’m here to tell you the wait is officially over.”